Name: Drew Hyatt
Title: CEO
Company: Veep Software
Website: www.veepsoftware.com
Founded: 2019
Headquarters: Miami, Florida
Description: An enterprise technology solutions provider delivering custom software development, digital transformation, and scalable IT services to help businesses streamline operations and accelerate growth.
Building Earned Wage Access for Trust, Not Just Speed
As scrutiny rises in fintech, Hyatt says the future of earned wage access depends on governance, transparency and measurable consumer outcomes.
When Drew Hyatt joined Veep Software as CEO in February, he didn’t see a market hungry for another flashy fintech app. He saw a category at risk of losing credibility.
The earned wage access (EWA) market was already crowded, Hyatt said, but many platforms looked interchangeable—focused on speed and growth, with too little attention paid to risk, compliance and long-term trust. At the same time, banks and credit unions, despite having the relationships and duty of care, were largely absent from offering EWA as a native product.
“That gap was obvious,” Hyatt said. “EWA needs to be built for trust—not just speed.”
Veep was founded to bring earned wage access into the financial mainstream in a responsible way: designed for regulated institutions, embedded with controls and built to support financial wellness rather than quick transactions.
A crowded market with a missing foundation
Hyatt, a fintech operator with experience scaling products in regulated environments, said one of the biggest misunderstandings about EWA is that it inherently promotes unhealthy financial behavior.
“In reality, when it’s designed responsibly—transparent, consent-based, with clear limits—it can reduce financial stress,” he said. “For most people, the issue isn’t income. It’s timing.”
Unexpected expenses don’t align neatly with pay cycles. A car repair or medical bill can hit days or weeks before payday, forcing consumers toward high-cost alternatives. EWA, Hyatt argues, is a liquidity tool that helps bridge that gap—when done right.
“It’s not a silver bullet,” he said. “It doesn’t replace budgeting or savings. But it can prevent people from falling into worse options.”
Consumer-simple, institution-ready
Veep’s platform reflects that philosophy. On the surface, users see a simple app experience that allows eligible workers to view available earnings, transfer funds and receive support with clear disclosures and consent.
Behind the scenes, the platform is built for banks, credit unions and employers that operate under regulatory scrutiny. Veep focuses heavily on risk management, analytics and operational controls, using AI-driven insights to help partners manage exposure responsibly.
“Consumer-simple on the surface, institution-ready underneath,” Hyatt said.
Unlike standalone consumer apps, Veep embeds financial wellness capabilities directly into the experience, offering guidance and education designed to help users make better decisions throughout the month—not just access cash early.
Aligning competing priorities
Serving banks, employers and payroll systems simultaneously is one of the hardest challenges in the space, Hyatt said.
“Each stakeholder has different priorities,” he said. “Employers want simplicity and positive employee outcomes. Banks and credit unions care about governance and trust. Payroll providers need reliability and security.”
Veep’s approach has been to design around shared standards from the beginning: clear data flows, strong controls and repeatable implementation. Listening, Hyatt added, is critical.
“The fastest way to fail is assuming one stakeholder’s needs are universal,” he said.
Leadership grounded in discipline
Hyatt credits several leadership principles for guiding Veep’s growth. He emphasizes hiring experts and empowering them, partnering deliberately rather than building everything in-house, and choosing investors who add operational value—not just capital.
Discipline matters just as much, he said.
“Clear KPIs, clear accountability and an honest cadence around what’s working and what isn’t,” Hyatt said. “Scaling is equal parts talent, discipline and humility.”
That mindset extends to decision-making in regulated environments. Hyatt favors fact-based decisions, asking what data is available and what the downside is if a decision proves wrong.
“In fintech, trust is the product,” he said. “We move quickly, but we don’t rush.”
Common mistakes in EWA
Hyatt is blunt about where startups often go wrong. The biggest mistake, he said, is treating earned wage access like a simple consumer app instead of a regulated financial product.
“Compliance, third-party risk, dispute handling—these aren’t optional,” he said. “Some teams over-rotate on growth and underinvest in durable controls.”
Another frequent failure point is implementation. Integrations, onboarding and change management are where promising ideas stall.
“Speed matters,” Hyatt said. “But durability matters more.”
Focus as strategy
One hard-earned lesson Hyatt carries forward is knowing what not to build. In complex ecosystems like payroll and payments, trying to own every component is rarely efficient.
“Focus isn’t a slogan—it’s a strategy,” he said. Veep builds what differentiates the platform and partners with best-in-class providers for the rest, resulting in a more resilient product.
Winning younger consumers through trust
For banks and credit unions trying to attract younger, digital-first customers, Hyatt sees EWA as a relationship product rather than a one-off transaction.
“Younger consumers expect mobile-first, real-time tools that solve real problems,” he said. “When EWA is delivered responsibly, it increases engagement and strengthens trust.”
Veep positions EWA as part of a broader financial relationship—embedded in a transparent experience with wellness tools and strong controls that reinforce the institution’s role as a primary financial partner.
AI, governance and explainability
Veep uses AI extensively, but Hyatt insists it must reduce complexity, not create black boxes.
“If you can’t explain it, you shouldn’t deploy it,” he said.
That means explainable decisioning, clear disclosures for consumers and strong governance for partners. AI, in Hyatt’s view, should improve monitoring, analytics and risk management without eroding trust.
Building ahead of regulation
Rather than reacting to regulatory pressure, Veep treats compliance as a design principle. The company stays active in industry groups and closely monitors federal and state developments, but Hyatt says the real advantage is building responsibly from day one.
“Clear disclosures, consent, strong security and operational processes that stand up to scrutiny,” he said. “That’s how partners feel confident leading responsibly instead of reacting defensively.”
What sets Veep apart
Veep’s differentiation starts with risk. The company has developed a patent-pending, AI-driven risk framework tailored specifically for earned wage access. Beyond access, Veep is focused on what Hyatt calls “EWA 2.0”—tools that help consumers anticipate shortfalls, improve budgeting behavior and access education at the right moments.
“The next phase of EWA is outcomes, not access,” Hyatt said.
Looking ahead, Veep is building an ecosystem-driven growth strategy, expanding distribution through partnerships with platforms serving banks, credit unions and employers at scale.
“Our growth strategy is ecosystems—built for scale and durability,” Hyatt said.
Advice for founders
Hyatt’s advice to fintech founders is direct: build for trust from day one.
“Don’t confuse traction with durability,” he said. “Be disciplined about focus, understand regulation and surround yourself with operators who’ve been through real scrutiny.”
In today’s fintech environment, Hyatt added, novelty fades fast.
“Excellence is the best marketing,” he said.
